Net Proceeds

Once you've been given an estimate of market value, you can get a rough idea of how much cash you might walk away with when the sale is completed. This can be particularly useful as you start looking for another home to buy. From the estimated sales price, subtract:

Payoff figure on your present loan(s)

Broker's commission

Any prepayment penalty on your mortgage

Attorney's fees, if any

Unpaid property taxes

In addition, I can tell you whether local customs or rules expects the buyer or seller to pay for the following items:

Title insurance premium

Transfer taxes

Survey fees

Inspections and repairs for termites and the like

Recording fees

Homeowner Association transfer fees and document preparation

Home protection plan

Natural hazard disclosure report

As far as closing costs are concerned, you and your eventual buyer may agree on any arrangement that suits you, no matter what local practice dictates. Your REALTOR® will assist you in estimating what your final closing costs will be. It is difficult to predict what the exact closing costs will be when you negotiate with a particular buyer.